It is me again guys <3
We have already know what is external environment analysis, sooooooooo lets see what is internal environment yayy :D
Internal as what we understand, it is from within the organisation. We can identify the strength and the weaknesses of our companyyyy :)
There are 4 major functional areas which are, MANAGEMENT, MARKETING, FINANCE, and OPERATION.
A) Management
There are 5 basic functions in the management you must remember:
1) Planning
2) Organizing
3) Motivating
4) Staffing
5) Controlling
B) Marketing
It refers to the exchange of products or services from the producer to the user. We have to determine what customers wants and needs to satisfy them. Marketing mix consists of product, distribution, promotion and pricing strategies. The example of marketing mix is the 4P's.
4p's
- Product
- Price
- Place
- Promotion
C) Financial
There are five major financial ratios which are:
1) Liquidity Ratio
2) Leverage Ratio
3) Activity Ratio
4) Profitability Ratio
5) Growth Ratio
D) Operation/ Production
The most frequently method is Break Even Point analysis (BEP). It determines what sales volume must reach before the company breaks even and no profit earned.
That is all for internal environment analysissss ;)
xoxo,
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